BB Governor stresses greater, intelligent Islamic Finance

Bangladesh Bank (BB) Governor Dr. Atiur Rahman participated in the 27th Meeting of the Islamic Financial Services Board (IFSB) Council at the Islamic Development Bank (IDB) Head Quarter in Jeddah on 7 December 2015. While addressing at the Council, Governor Rahman appreciated the hospitality of the IDB President Dr. Ahmad Mohamed Ali Al Madani, and focused on the need for intelligent communication on Islamic Finance using social media. His take on IFSB’s Strategic Report was a call for bringing more jurisdictions in the process of strategic planning, focusing more on financial inclusion and sustainability. Central bank governors of Bahrain, Indonesia, and the Chief of Financial Services Authority (FSA) supported Bangladesh Bank’s proposal, and others also agreed.
BB Governor welcomed the move on E-learning Platform to be floated by IFSB, and asked for putting in place effective assessment process at the end of the course, where successful learners may be recognized by providing certificates. Dr. Rahman also called for more inclusive database on Prudential and Structural Financial Indicators focusing on inclusivity and sustainability. He added that the data should be regularly communicated to wider audience. Governor Rahman appreciated IFSB’s campaign for wider knowledge sharing with the organizations like World Bank, International Monetary Fund (IMF), IDB and Bank for International Settlements (BIS). The Council ended with election of the new Chair of the Council, Mr. Hisham Ramez Abdel Hafez, Governor of the Central Bank of Egypt.
On the same day, Governor Rahman also participated in the 12th Islamic Stability Forum. Further, he had an exclusive bilateral meeting with the IDB President Dr. Madani at his office, where he discussed on Bangladesh’s excellent record of financial stability and inclusion, in addition to the performance of Islamic Banking. – Bangladesh Bank press release